Momentum Continues In Advisors Moving To Independence

SAN FRANCISCO--(BUSINESS WIRE)-- Schwab Advisor Services today released its analysis of U.S. Securities and Exchange Commission (SEC) advisor registrations for 2017, which shows that the number of new advisors filing with the Commission as registered investment advisors (RIAs) continued the strong growth trajectory seen in the previous year. According to the data, new registrations jumped 20 percent year-over-year and grew by 59 percent over the last five years, from 150 new RIA firms in 2013 to 238 new firms in 2017.

Firms established in 2017 represented nearly $84 billion in assets under management (AUM) at the time of their registration.

“A decade after the onset of the financial crisis, it’s evident that the independent model has flourished along with investors’ demand for fiduciary advice,” said Jonathan Beatty, senior vice president, sales and relationship management, Schwab Advisor Services. “We are proud of our heritage of supporting independent financial advice. After more than three decades in the space, we remain committed to supporting those making the transition to independence with resources and expertise to set them on a course for long-term success.”

Large firms continue to move to independence at a considerable rate. The number of firms with more than $300 million in AUM represents almost 30 percent of SEC registrations in 2017, up from 12 percent in 2013.

Schwab’s analysis sets the stage for IMPACT®, the largest and longest-running annual gathering of independent advisors in the nation, where many advisors attend to learn more about the independent model and the ecosystem that surrounds it.

Independent Advisors Gather In D.C. Ahead Of Midterm Elections

Nearly 2,000 current Schwab Advisor Services clients along with hundreds of industry professionals will gather at the Walter E. Washington Convention Center in Washington, D.C., October 28-31 to hear from experts about a variety of timely investing and practice management topics.

Just one week before midterm elections, IMPACT attendees will hear from prominent keynote speakers, including Former Federal Reserve Chair Janet Yellen, Former White House Chiefs of Staff Andrew Card and Denis McDonough, leading historian and political commentator Niall Ferguson, Non-Obvious Company Founder Rohit Bhargava, and Horizon Investments Political Strategist Greg Valliere. Advisors will also hear from Schwab’s Executive Vice President and Head of Advisor Services Bernie Clark, Charles Schwab President and CEO Walt Bettinger, Chief Investment Strategist Liz Ann Sonders, and Global Chief Investment Strategist Jeffrey Kleintop.